Lego To Close Connecticut Facility
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Tough times for the toy industry continue, with toy giant Lego being the latest to feel the effects.Lego Systems, Inc. will be closing its molding and processing operations in Connecticut as part of a global restructuring, according to a report on the Associated Press. Greater than expected losses, estimated between $40 to $65 milllion, contributed to the decision which results in the loss of nearly 100 positions. The full restructuring, expected to be announced next week, will entail the loss of nearly 300 positions worldwide. According to the report, Lego also anticipates a slow down in product shipments following the holidays. [Posted 11/30/2000]
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